ValuEngine Upgrades Clovis Oncology (NASDAQ:CLVS) to “Sell”

ValuEngine upgraded shares of Clovis Oncology (NASDAQ:CLVS) from a strong sell rating to a sell rating in a report released on Thursday, August 2nd.

CLVS has been the subject of several other reports. Credit Suisse Group set a $86.00 price objective on Clovis Oncology and gave the stock a buy rating in a research report on Friday, April 6th. Cann reissued a hold rating on shares of Clovis Oncology in a research report on Sunday, April 8th. SunTrust Banks upped their price objective on Clovis Oncology to $90.00 and gave the company a buy rating in a research note on Monday, April 9th. Bank of America dropped their price objective on Clovis Oncology from $90.00 to $55.52 and set a buy rating on the stock in a research note on Monday, April 9th. Finally, BidaskClub upgraded Clovis Oncology from a sell rating to a hold rating in a research note on Wednesday, April 11th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. Clovis Oncology presently has a consensus rating of Buy and a consensus price target of $79.65.

Shares of CLVS stock traded up $0.09 on Thursday, reaching $34.77. 697,568 shares of the stock were exchanged, compared to its average volume of 1,184,167. Clovis Oncology has a one year low of $33.85 and a one year high of $86.26. The company has a debt-to-equity ratio of 1.84, a quick ratio of 9.21 and a current ratio of 10.03.

Clovis Oncology (NASDAQ:CLVS) last released its quarterly earnings data on Wednesday, August 1st. The biopharmaceutical company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($1.38) by ($0.56). Clovis Oncology had a negative net margin of 382.83% and a negative return on equity of 94.28%. The company had revenue of $23.76 million during the quarter, compared to the consensus estimate of $22.44 million. During the same quarter in the prior year, the company posted ($1.29) EPS. The company’s revenue for the quarter was up 62.5% compared to the same quarter last year. research analysts expect that Clovis Oncology will post -6.77 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Palo Alto Investors LP boosted its holdings in shares of Clovis Oncology by 16.2% during the 1st quarter. Palo Alto Investors LP now owns 3,955,660 shares of the biopharmaceutical company’s stock valued at $208,859,000 after acquiring an additional 552,879 shares in the last quarter. Carmignac Gestion raised its position in Clovis Oncology by 14.3% during the 1st quarter. Carmignac Gestion now owns 1,509,540 shares of the biopharmaceutical company’s stock worth $79,704,000 after purchasing an additional 188,676 shares during the last quarter. Point72 Asset Management L.P. raised its position in Clovis Oncology by 1.0% during the 1st quarter. Point72 Asset Management L.P. now owns 1,155,937 shares of the biopharmaceutical company’s stock worth $61,033,000 after purchasing an additional 11,937 shares during the last quarter. Westfield Capital Management Co. LP raised its position in Clovis Oncology by 8.9% during the 1st quarter. Westfield Capital Management Co. LP now owns 550,315 shares of the biopharmaceutical company’s stock worth $29,057,000 after purchasing an additional 44,760 shares during the last quarter. Finally, Emerald Advisers Inc. PA raised its position in Clovis Oncology by 71.6% during the 2nd quarter. Emerald Advisers Inc. PA now owns 355,033 shares of the biopharmaceutical company’s stock worth $16,143,000 after purchasing an additional 148,107 shares during the last quarter. 94.81% of the stock is currently owned by institutional investors and hedge funds.

Clovis Oncology Company Profile

Clovis Oncology, Inc, a biopharmaceutical company, focuses on acquiring, developing, and commercializing anti-cancer agents in the United States, Europe, and internationally. Its commercial product includes Rubraca (rucaparib) tablet, a small molecule poly ADP-ribose polymerase inhibitor, used as monotherapy for the treatment of patients with deleterious BRCA mutation associated advanced ovarian cancer, who have been treated with two or more chemotherapies, and selected for therapy by an FDA-approved companion diagnostic for Rubraca.

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Analyst Recommendations for Clovis Oncology (NASDAQ:CLVS)

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